Update: Bernanke gets his Joe Cassano on…

…Stunningly, today we learn that to keep long rates low, the Fed may have resorted to nothing short of the same suicidal trade that destroyed AIG FP and brought the entire system to its knees. Namely, Ben Bernanke is now quite possibly the second coming of Joe Cassano, since in order to keep rates low, Bernanke is forced to a last resort action of selling billions upon billions of Treasury puts to “pin” rates low contrary to natural supply-demand mechanics…

…In essence, the financial Elites would own the revenue stream of the Federal government and its taxpayers. Neat con, and the marks will never understand how “saving our financial system” led to their servitude to the very interests they bailed out.

The circle is now complete: in “saving our financial system,” the public borrowed trillions and transferred the money to private Power Elites, who then buy the public debt with the money swindled out of the taxpayer. Then the taxpayers transfer more wealth every year to the Power Elites/Plutocracy in the form of interest on the Treasury debt. The Power Elites will own the debt that was taken on to bail them out of bad private bets: this is the culmination of privatized gains, socialized risk….

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.”

I am now on board to END THE FED. The pols we have right now are clearly puppets and TPTB and the TBTF are leading our nation to destruction. Here’s hoping the Tea Party can bring enough of the people’s voices to stop the destruction.

I wish the GOP would set up a place to DONATE to support the PAUL RYAN BUDGET PLAN. I would be in.

Maybe we Gen-Xers can get it together. I hope so, my kids deserve the America we grew up in. Sigh, these were the ‘good ole days’-